Bishares Teases Cross-Chain Approach onto Cronos Network

Bishares is expanding its decentralized ETF ecosystem, and will integrate into Cronos Chain soon.

By
Ahamdi Abarikwu
on
December 2, 2021
Category:
BSC News

BSC Done, Next Chain On The Way

Decentralized ETF investment protocol, Bishares, has given a glimpse of what its next move may be. After being the first ETF fund on BSC, Bishares has set its sights on pioneering ETF products on another chain. 

"#BiShares is working on something that no other team has ever done on any chain...", the platform teased the community in a tweet on November 30.

The tweet's graphic indicates that Bishares will launch a presence on Cronos Blockchain. The exact form that the presence would take is not yet clear. Bishares will certainly give more details concerning its Cronos integration in the days to come. 

ETF Revolution

The adoption of ETFs is still at the nascent stage. The recent approval by the USA's Securities and Exchange Commission (SEC) for the listing and trade of Bitcoin ETFs in the American market is sure to have a positive ripple effect on ETF adoption. While that is going on in centralized traditional markets, it is heartwarming that the crypto-space is not being left behind. 

Source

Bishares enables the BSC community to enjoy the benefits of Crypto ETFs in a decentralized way. With a single investment in a Bishares fund, an investor can get exposure to several cryptocurrencies without actually owning them individually. This investment approach will appeal to people who don't want the hassle that comes with owning cryptos, but who want to invest in crypto all the same. 

To get a good understanding of what Crypto ETFs are, see this BSCNews explainer article on the subject. 

What is Bishares?

BiShares is a DeFi protocol that offers decentralized Exchange Traded Funds (dETFs). Bishares makes it easy for investors to safely diversify their crypto portfolio with a single investment in a fund. Some existing funds include biDEFI, biGAME, and BSC TOP 10 etc.

Bishares was founded by an anonymous team of developers and is the first index fund protocol on Binance Smart Chain. The protocol has been audited by security firms Solidity, DefiYield, and Gordian.

To know more about Bishares, visit these links:

Website | Twitter | Medium | Github | Discord | Telegram

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Ahamdi Abarikwu

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time. He hold bags mostly in BabyDoge, CSM (Crust Storage Network), and JulD.

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